annual report - Tenaga Nasional Berhad

Notes To The Financial Statements28 BORROWINGS (CONT’D.)(c)Income Securities (Cont’d.)(ii)1,000 Class A RPS of RM1.00 each, issued at a premium of RM999.00 per share and 500 Class B RPS ofRM1.00 each, issued at a premium of RM999.00 per share. Both classes of RPS are redeemable at RM1,000each at the Company’s option at any time on or after 16 August 2010 and 19 September 2010, for Class A andB RPS respectively. If the Class A and B RPS are not redeemed by 16 August 2011 and 19 September 2011respectively, an additional sum of RM1.0 million on the first tranche and RM0.5 million on the second trancheshall become due and payable under the final Bond Coupon payment for each of the tranches.With the adoption of the Single Tier Tax System, the Company is now making coupon payments on the FIS insteadof dividend. The interest payable under the Bond Coupon is RM94.5 million per annum payable semi-annually.The FIS are classified as debt instruments and hence are reported as liabilities.29 CONSUMER DEPOSITSConsumers (with the exception of employees and government departments/agencies) are required to deposit a sumsufficient to cover charges for two months supply of energy as allowed under the regulation of the Licensee Supply(Amendment) Regulations 2002. In default of payment of the deposit within the time specified, the supply to theconsumer’s installation may be disconnected, subject to certain conditions laid out in the Regulations.TNB shall pay a sum equivalent to 5% per annum on the amount of cash deposit as a rebate, on a pro-rated basis, inJanuary every year.30 EMPLOYEE BENEFITSThe movements during the financial year in the amounts recognised in the consolidated balance sheet are as follows:-R retirement Retirementbenefit medicalplan plan TotalR rM’million RM’million RM’million[ Tenaga Nasional Berhad ] [ Annual Report 2008 ]234GroupAt 1 September 2006 1,011.0 1,303.1 2,314.1Charged to income statement 249.0 400.2 649.2Contribution and benefits paid (123.8) (108.9) (232.7)At 31 August 2007 1,136.2 1,594.4 2,730.6Charged to income statement 246.6 423.0 669.6Contribution and benefits paid (136.3) (139.1) (275.4)At 31 August 2008 1,246.5 1,878.3 3,124.8